Demola Olarewaju, a senior political aide to former Vice President Atiku Abubakar, has launched a blistering attack on the economic policies of President Bola Tinubu, accusing the administration of worsening poverty and deepening economic hardship across the country.
Olarewaju, who spoke during an appearance on Vanguard’s Politics Hub, blamed the government’s handling of key economic reforms, particularly the removal of the fuel subsidy on assumption of office, which he said was done without full deregulation of the downstream petroleum sector.
He argued that the policy has triggered inflationary pressures, driven up the cost of living, and weakened purchasing power for ordinary Nigerians.
He also accused the administration of failing to properly connect macroeconomic decisions with microeconomic realities affecting citizens, insisting that the impact of reforms has been largely negative.
“I think that his biggest achievement has been making Nigerians poorer, and it’s sad that, negatively, Nigerians are poorer today, and the reason we are poorer is because of the instability of the economy,” he said.
“You buy a crate of eggs for 6000 naira today. You go back next week to try and buy another crate of eggs: 8000 naira. The following week it is back to 7500, and then it goes to 9000. I mean, this is, this is, this is definitely a failure, but you know he is not concerned about it because I do not think that Bolatino is the one who’s greater on empathy when it comes to Nigerians. I don’t think that they feel what we feel.”
Olarewaju further claimed that the administration has failed in key sectors including power supply, citing the continued challenges in electricity distribution despite tariff structures and reforms in the sector.
He also raised concerns over worsening insecurity across the country, alleging that banditry and kidnapping have expanded into several regions, including parts of the South-West.
According to him, many Nigerians are now worse off economically compared to previous administrations, insisting that inflation and rising fuel prices have eroded any gains from government reforms.
He warned that unless there is a major shift in policy direction, Nigerians may continue to face worsening economic conditions ahead of future elections.
